An oligopoly is characterized by a market with a few firms having a negligible effect on price.
oligopoly
Pure Competition Monopolistic Competition Oligopoly Monopoly
An oligopoly includes a group or 2-3 firms controling all business. So I would have to say yes, it could be.
Duopoly, a specific instance of oligopoly.
oligopoly
Oligopoly!
Oligopoly
Oligopolistic
in oligopoly what is the nature of price elasticity
Oligopoly is a market from where large numbers of buyers contact few sellers for the purpose of buying and selling things. The different types are a pure oligopoly, a differentiated oligopoly, a collusive oligopoly, and a non-collusive oligopoly.
An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.